Trade – Investment

The General Department of Customs and five commercial banks on October 23rd signed a deal to pilot State budget collection via the Internet every day of the week.

Vietnam’s trade balance in the first half of October continued to achieve a surplus of USD707 million, bringing this figure since the start of 2017 to nearly USD1.09 billion, a reversal compared to the first months of the year.

With positive signs like rice export contracts significantly increasing in the closing months of 2017, the Vietnam Food Association (VFA) raised its rice export target to 5.6 million tons instead of 5.2 million tons as set earlier.

The eighth conference on economic corridor cooperation among five cities and provinces from Vietnam and China will take place in the northern city of Hai Phong on November 21st-24th.

Vietnam’s consumer price index (CPI) in September rose 0.59 percent, the highest level in 10 months except for August due to increasing tuition fees. However, experts said that inflation in the whole year will stand below 4 percent as such administrative changes that can be controlled.

The central province of Quang Ngai should specify its strong sectors and products so as to devise an appropriate investment attraction strategy, Deputy Prime Minister Trinh Dinh Dung said at the province’s investment promotion conference on October 20th.

Vietnam’s Ministry of Finance (MoF) and The Treasury of Australia will step up financial cooperation as per stipulated in a Memorandum of Understanding (MoU) inked by Minister Dinh Tien Dung and Treasurer Scott John Morrison.

The price of salt has risen this year but middlemen, rather than farmers, have benefited.

The prices of RON 92 petrol and bio-fuel E5 fell by VND124 and VND97 per litre, respectively, as from 16h55 on October 20th.

The State Bank of Vietnam set its reference VND/USD exchange rate at 22,459 VND/USD on the morning of October 20th, down by VND3 from a day ago.

Prime Minister Nguyen Xuan Phuc has set facilitating business and export activities as an urgent task to realise free trade agreements (FTAs) Vietnam has signed.

The top 50 information technology (IT) companies of Vietnam in 2017 has total revenue of over VND20.67 trillion (USD936 million) and employ over 35,500 people, according to the Vietnam Software and IT Services Association (VINASA).

Hanoi hopes to attract USD110 billion in an investment capital in the next few years to boost its growth. Hanoi is working hard to improve its investment environment because the state budget can only supply fifth of what the city needs.

The Hanoi Party Committee (16th tenure) convened its tenth meeting on October 13th to review the city’s socio-economic performance during January-September and put forth measures to fulfill targets set for the remaining months of this year and the next years.

Members of the Steering Committee on Price Management shared the view that the consumer price index (CPI) will grow by less than 4 percent this year, citing the positive outcomes of the first three quarters and price forecast for the last quarter.

A workshop was held in Johannesburg city on October 12th to promote investment between Vietnam and South Africa.

The first Vietnam Coffee Day will take place in Da Lat city of the Central Highlands province of Lam Dong on December 9th-11th, announced local authorities and the Vietnam Coffee and Cocoa Association.

Tien Sa wharf of Da Nang port in the central city of Da Nang city will be completed and put into operation in late November, four months ahead of the plan, said the Vietnam National Shipping Lines (Vinalines).

Prime Minister Nguyen Xuan Phuc has affirmed that the Government will continue to protect the business community and their legitimate rights and interests, while working harder to reduce costs and interest rates to help enhance domestic firms’ competitiveness in international integration.

Ho Chi Minh city has called on domestic and foreign businesses to invest into over 130 projects, including 116 socialized projects, 11 national projects and six belonging to the Thu Thiem new urban area, the city Investment and Trade Promotion Centre (ITPC) reported during an investment promotion meeting for 2017 on October 11th.

Some 300 domestic and international delegates will attend the APEC Finance Ministers’ Meeting (FMM) which will be held in Quang Nam province’s Hoi An city from October 19th-21st.

The Embassy of Australia in Vietnam and HATCH! VENTURES – a social enterprise and startup incubator, jointly held a conference to boost startups in the central city of Da Nang on October 7th.

A fair introducing products made from tra fish (pangasius) and seafood kicked off at the Hanoi-based Agricultural Exhibition Centre on October 6th.

State budget collection in January-September increased 13.9 percent year on year to reach VND843 trillion (USD37.1 billion), equal to 69.5 percent of the estimate, according to the Ministry of Finance (MoF).

(CPV) - Vietnam Finance conference & exhibition 2017, one of the most prestigious IT forum in the public sector, opened on October 6th in Hanoi under the theme “Enhancing public asset management: Strategies and IT Solutions”.

(CPV) - On October 6th-7th, the Foreign Affairs Department in association with the Embassy of Japan in Vietnam will organize a conference with Japanese enterprises in Nha Trang city, Khanh Hoa province, to strengthen economic relations between enterprises of the two sides.

(CPV) - Improved global growth prospects and continued strong domestic demand underpin a positive outlook for the developing economies of East Asia and the Pacific, according to the latest World Bank report on the region released in Bangkok (Thailand) in October 4th.

Argentina hailed Da Nang’s hosting of APEC 2017 Summit Week in November and pledged to call upon Argentine enterprises to participate in economic workshops in the central coastal city to seek investment opportunities.

The Hoa Binh Company on October 1st inaugurated a complex of apartments and hotels, Hoa Binh Green Da Nang Building, in Da Nang city to serve the upcoming APEC Economic Leaders’ Week.

Deputy Minister of Industry and Trade Tran Quoc Khanh and his Chinese counterpart Gao Yan co-chaired the 10th meeting of the Vietnam-China Committee for Economic and Trade Cooperation in Hanoi, focusing on measures to reduce Vietnam’s trade deficit with China.